Recently Papa John’s closed in an area that I have been looking for a second location. The store is 4 years old, has been closed for about 5 weeks and still has all the equipment inside. In my current store I use the same layout as a Papa John’s, considering the costs of a build out and new equipment this is a great opportunity.
I made an appointment with the landlord to look at the space next week. I haven’t talked to the franchisee yet but he told the landlord that he would sell at a fair price. I’m just not sure what a fair price would be considering the fact that I will be bailing the guy out. The franchisee would have to buy their way out of the lease, put the building back to the original condition and sell off all the equipment. Any input would be great.
I made an appointment with the landlord to look at the space next week. I haven’t talked to the franchisee yet but he told the landlord that he would sell at a fair price. I’m just not sure what a fair price would be considering the fact that I will be bailing the guy out. The franchisee would have to buy their way out of the lease, put the building back to the original condition and sell off all the equipment. Any input would be great.
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